FMC may offer "lead time" to bourses

Forward Markets Commission (FMC) is considering offering "lead time" to exchanges that have put in extra-ordinary efforts to launch a commodity contract.

According to Anupam Mishra, director of FMC, the lead time could vary from three months to one year on a case-to-case basis.

"Fristly, the novelty has to be proved by the concerned commodity exchange, which is seeking intellectual property right (IPR) protection for its specific contract. Lead time would be offered after the regulator is satisfied with the the fact," Mishra said.